Well the last few days have been hectic.
The Bank of England became the first central bank to hike rates by 15bps to 0.25%. The Fed made a hawkish pivot signalling 3 rate hikes for 2022. The ECB raised inflation expectations and revised growth lower. Behind this backdrop the rise in Omicron cases is alarming and it looks like nearly everyone will get it. How will it impact China is one key question that still needs to be answered and that makes it much harder to jump into risk traders straight away. All of this is not even mention the Norges bank, the SNB and the CBRT actually cut by 100bps yesterday and that was despite the 20%+ levels of inflation in Turkey.
Today, thankfullly, is quieter on the scheduled data front, so taht allows more mental space for processing what has already gone on.
0700GMT German PPI
0700GMT UK Retail sales
0900GMT German Business Climate
1000GMT EUR FInal CPI Y/Y
